Question

1.Reducing tariff rates will not improve a country's growth if

A. goods cannot enter or exit the country easily due to insufficient transportation networks.

B. the country has low levels of corruption.  

C. levels of technology in the country are low.

2.Which of the following policies is most likely to reduce the amount of child labor used in developing countries?

A. Developed countries subsidizing their agricultural industries.

B.Developing countries preventing farmers from exporting agricultural goods.

C. Developing countries requiring children to attend school.

3. Which of the following statements has NOT been a persistent myth or anxiety associated with economic development?

A. Commerce and entrepreneurial capitalism takes more people out of poverty than aid.\

B. Developing countries would become locked into limited patterns of specialization.

C, Developing countries have limited opportunities to achieve growth through exports.

4.The "Fair Trade" movement results in consumers paying ____________ prices for products from developing countries such as coffee, tea and cocoa.

A.  higher

B. lower

C. less polarizing

Answer 1

Answer 1- Reducing tariff rates will not improve a country's growth if goods cannot enter or exit the country easily due to insufficient transportation networks. The answer will be A. As we know that the tariff rates are reduced by the government in order to promote the trade between the country if the transportation facility is not good in the country there will be no benefit of reduction in trade barriers.

Answer 2- Developing countries requiring children to attend school this policy is most likely to reduce the amount of child labour used in those countries. If the children will get the education they will be more cable to do a better job when they grow up. Answer is C

Answer 3- Commerce and entrepreneurial capitalism take more people out of poverty than aid this statement is not a persistent myth or anxiety associated with economic development. Answer is A

Answer 4- The "Fair Trade" movement results in consumers paying higher prices for products from developing countries such as coffee, tea and cocoa. The Fair Trade has to go to a certification process which costs money that other producers do not have to pay. Yes the workers receive a higher wage and that is a piece of it but the cost of paying the Fair Trade Organization costs more than the increases in labour cost. Answer is A